What's with all the fake coins on Ebay?

Blackhawk · October 17, 2003 5:25AM

I can't believe the number of fake coins being posted on Ebay lately. It started with trade dollars, but now I see Morgans, seated quarters thru dollars, and others in just about any date imaginable. Most of these auctions originate in the orient, but there are some that seem to be listed by domestic sellers. Most all of the auctions say something about not knowing if the coins are real or not.

What's the deal here? I thought that fake coins had to be marked as copies. Furthermore, how can these guys get by selling counterfeit US coins. I would think that the secret service would be on the listers backs...aqnd Ebay should be following the laws also.

This can only be bad news for numismatics. Every time a collector gets ripped off, they lose a little more interest in the hobby. The people bringing this junk into the US should be locked up.

RiffRaff1967 · October 17, 2003 5:35AM

Even when they do state that the coin is a "copy" or a "replica" - they do not state it in the item title. I hate that. If it is a replica of an 1877-cc trade dollar, then he title should be "REPLICA 1877-CC TRADE DOLLAR", or "1877-CC TRADE DOLLAR COPY".

Sorry for yelling.

Wolf359 · October 17, 2003 5:40AM

I've noticed it too. If it continues to grow, it will impact eBay big time. Imagine browsing listings when 25% or more of the coins are replicas, copies, counterfeit, etc.

abuell · October 17, 2003 5:41AM

<< Every time a collector gets ripped off, they lose a little more interest in the hobby. >>

It takes two to tango and those who bid on these 'great deals' are just as greedy as those who put that junk up for sale. I have no sympathy for either side. They deserve each other.

ElectricEye · October 17, 2003 5:42AM

just keep reporting the violations to EBay

morganbarber · October 17, 2003 6:30AM

I saw a guy today with a whole slew of trade dollars in G-F condition which were at $15.00 to $18.00 with minutes to go in the auction. The seller "didn't know anything about coins, but suspected that each one might be fake." Who has a dozen fake trade dollars but isn't in to coins, yet suspects that they are fake?????

abuell · October 17, 2003 6:44AM

<< I saw a guy today with a whole slew of trade dollars in G-F condition which were at $15.00 to $18.00 with minutes to go in the auction. The seller "didn't know anything about coins, but suspected that each one might be fake." Who has a dozen fake trade dollars but isn't in to coins, yet suspects that they are fake????? >>

Obviously this seller is a newbie. An experienced seller would have been sure to state that the coins were found in the wall of a 125 year old house and had been put there by his great grandfather.

JohnZ · October 17, 2003 6:47AM

Trade dollars are particularly suspect. There was a horde of counterfeits that came out at the last Hong Kong International Coin Show, and they're currently being dispersed throughout the American market by unscrupulous dealers.

jeffnpcb · October 17, 2003 6:55AM

They should only be allowed to post these things in a separate catagory only! Until eBay forces the issue, they will be in this arena, which is sad! We can all reflect on the copies that are bidded up by un-suspecting people or shills to make them appear real! Ebay has to stop all copies, replicas, etc. from the US Coin areas, or sub-catagorize these to only one!

kamehameha00 · October 17, 2003 6:58AM

In a mail order catalog I got,There was a Sac dollar and A Delaware quarter that were being sold as copies FIVE TIMES AS MUCH AS FACE VALUE!

291fifth · October 17, 2003 7:45AM

Correct me if I'm wrong but I believe it is illegal to own counterfeits of US govt. coins or currency, period. This appears to be just another example of scammers running wild on the internet.

coppercoins · October 17, 2003 8:08AM

<< It takes two to tango and those who bid on these 'great deals' are just as greedy as those who put that junk up for sale. I have no sympathy for either side. They deserve each other. >>

I agree completely. If these people are unwilling to educate themselves and try playing 'garage sale deal' they are asking to be ripped off. Pure and simple.

Blackhawk · October 17, 2003 10:30AM

I can't agree with you on that. Just because someone is looking for a deal doesn't mean that they should be taken for a ride. Misrepresentation of a product isn't right whether it's done with CDs, movies, watches, or coins.

Ebay has policies regarding counterfeit items, and some people (naive as they may be) bid on those items trusting that Ebay enforces those policies.

abuell · October 17, 2003 11:09AM

<< 
Ebay has policies regarding counterfeit items, and some people (naive as they may be) bid on those items trusting that Ebay enforces those policies. >>

Every page on ebay says at the bottom of the page, "These items are not verified by ebay: caveat emptor." The last part is a link with a lot of good advice on purchasing safely.

I have a good friend who is a numismatic literature dealer. He sells a lot of numismatic auction catalogues on ebay. You wouldn't believe the number of people who buy a catalogue for $20 and are irate because they didn't get the million or so dollars worth of coins that are pictured on the cover of the catalogue!

Beauty may be only skin deep, but stupidity goes to the bone!

FanOfModerns · October 17, 2003 11:42AM

That's why you only buy PCGS coins. The raw coins and other grading services can't be trusted. If you buy a PCGS coin you can never go wrong!

abuell · October 17, 2003 11:56AM

<< That's why you only buy PCGS coins. The raw coins and other grading services can't be trusted. If you buy a PCGS coin you can never go wrong! >>

Yea, and I also believe in Santa Claus, the easter bunny and the tooth fairy!! Ya wanna buy a bridge?

291fifth · October 17, 2003 12:06PM

<< That's why you only buy PCGS coins. The raw coins and other grading services can't be trusted. If you buy a PCGS coin you can never go wrong! >>

Why do you insist on making statements like this? Pure nonsense.

jjroll · October 17, 2003 12:16PM

Little did you know that "FanOfModerns" just happens to be the PCGS employee of the month...

millennium · October 17, 2003 12:24PM

<< That's why you only buy PCGS coins. The raw coins and other grading services can't be trusted. If you buy a PCGS coin you can never go wrong! >>

Looks like the scammers aren't ONLY on Ebay....

NoGvmnt · October 17, 2003 12:46PM

FanofModerns said:
"That's why you only buy PCGS coins. The raw coins and other grading services can't be trusted. If you buy a PCGS coin you can never go wrong! "

Yeah, Okay, tell that to JadeCoin. And that is THE reason that I will not be sending anything in to PCGS ever again.

Jim

PS, Cameron, is that you?

What's with all the fake coins on Ebay?

Comments

Leave a Comment